Apple unseats Nvidia to become world's most valuable company as AI bets shift

Apple overtook Nvidia as the world's most valuable company, last valued at 4.88 trillion dollars versus Nvidia's roughly 4.86 trillion dollars after a 3.5 percent decline. The shift suggests investors are broadening AI exposure beyond pure-play chipmakers, with Apple seen as better positioned to monetize AI through services and ecosystem lock-in rather than heavy capex. Analysts note Nvidia could reclaim the top spot if sentiment shifts, while memory chipmakers like Micron and SK Hynix are emerging as new AI-driven winners.